the eu, it is about 5%.d of numbers that are influencing donald trump office thinking. that is what is driving this move the window and down the will cause pain for american consumers and ultimately our expected to end up paying for these tariffs. caitriona: michelle fleury on wall street. we will chat with all of the later on. thanks to our europe editor, cutler editor -- kettler adler, simon jack, and michelle fleury on wall street. in a country that has been a target of the u.s. president in the days since he took office back in january, it is the new neighbor to the north canada imports from the country have been hit with a blackish 25% tariff from agricultural products to food as well as oil, gas and machinery. in canada responded with a 24% tariff of its own close to $30 billion worth of products coming from the u.s. here is the canadian minister, mark carney, speaking on tue tuesday. >> i was very clear we will respond to additional measures. we will put in place retaliatory measures if there are addi

. >> wrongdoing, as the french government says the eu will. likely issue reciprocal tariffs later this month. european commission president ursula von der leyen cuts a stern figure. reaching. >> for tariffs as. your first. >> and last. >> tool will not. >> fix it. >> we have always. >> been ready to negotiate with the united states. >> to remove. >> the remaining barriers. >> to transatlantic. >> trade and europe's c-suite, to give their take on trade tensions, with total energy ceo patrick. pouyanne and leonardo ceo roberto cingolani both telling cnbc the situation could be beneficial for europe. >> we might have. >> some issues. >> but it could also offer us some opportunities. >> you know. >> i have to we have to navigate to. >> but not to overreact. at the moment. it is rather disruptive. in any disruption. you can find good. >> things like wake up call. >> so tariff day, it's come and gone. and us president donald trump has announced sweeping tariffs on america's trade partners, with a base rate of 10% on all nations, sending shockwaves a

tom cole it would support are you hoping to get from the eu, are you looking for the eu to support the and what support would you look for? >> are asking to have a financial safety net in order to face all this, not only for the sector, there should be an answer financially and also to help us with promotional across the world and at the end of the day, it would be great to have an answer in the eu single market to find ways of the politics. this the only thing we are asking, but i think the most important thing is to find a solution with the u.s. and i think that would be the key answer for now. tom: president of the european confederation of independent winegrowers on the potential impact of that industry and what the industry needs to see from those negotiations. thank you for taking the time. citadel founder ken griffin has called president donald trump's latest tariffs a huge policy mistake, he joins a chorus of wall street executives criticizing the levees, concluding blackrock ceo, larry fink. >> now ceeo that i talked to would say we are probably in a recession right now. a cou

-- in the eu and its agenda?ikaela: when more and then we will come back to the commissioner. >> things very much, commissioner. probably from the africa foundation. 150 billion to africa.patty see the partnership evolving forward? what is the next cycle for global gateway? thank you. mikaela: great. commissioner, we have remittances, regulation in the green taxonomy, and the africa-eu partnership. comm. sikela: i did not get the background of your question. you were talking about 110 billion remittances. >> to leverage and ask for finance. 110 billion a year is a lot more than what the eu does [indiscernible] comm. sikela: i think in a remittances it has been since the beginning of the millennium. basically the major foreign money flow worldwide. the sum is higher than all foreign direct investments worldwide since 2008. led by india, followed by china. the major issue is basically how to ensure this money, which is of course welcomed and receiving countries and their families, will be delivered to a maximum pos

tom: just for the record, that is not why the eu was formed.t does seem that the tone from the president and that clip suggests he has on some levels moderated his view on the eu. something of a reprieve. how is is being digested in brussels? >> he may be a bit humbled by the bond market and the moves we are seeing in the currency market and across the world and taking a slightly less aggressive tone when it comes to taking on his trading partners including the eu. for finance ministers gathered here in warsaw who have a huge docket to deal with, you think of the number of issues, the multifaceted issues that emanate from the trade question, you can break it up into three categories. first is negotiation retaliation. what are they willing to put on the table to bring to the trump administration? nontariff barriers? what are they looking at in terms of the architecture and forming defense? they will not publish a retaliation to the reciprocal tariffs and see rolled them back slightly but i king guarantee you that they will come up with the archi

on a eu la chance, avec mon mari, de le rencontrer. il nous a bénis.era exceptionnellement ouverte jusqu'à minuit ce soir et demain pour permettre au plus grand nombre de saluer le pape une dernière fois. - stéphanie antoine: pauline godart, notre envoyée spéciale à rome. bonsoir. vous suivez ces hommages qui vont durer jusqu'à samedi, jour des funérailles du pape. vous avez pu entrer dans la basilique. quelle était l'ambiance? - pauline godart: au sein de la basilique saint-pierre, le silence régnait. mais avant d'atteindre cette basilique saint-pierre, il faut s'armer de patience. on a vu des centaines de personnes, depuis ce matin, dans les files d'attente, attendant patiemment. il faut d'abord passer cette file d'attente, puis il y a un portique de sécurité. une fois que vous l'avez passé, il y a au minimum 1 heure 30 d'attente pour arriver au cercueil du pape françois. une fois que vous êtes à l'in

a valence, il y avait eu une concurrence entre autorités régionale et nationale.abeth allain: toutes les régions ont-elles sollicité l'aide de l'etat? je voyais que seulement 3 régions l'avaient fait. - benoît pellistrandi: au départ c'était l'andalousie, madrid et l'estrémadure, gouvernée par le parti populaire. ensuite, il y a eu castille-et-léon, et in fine, les régions dirigées par le parti socialiste. il y a une sorte de désordre administratif, mais avec un sous-entendu politique. tout le monde est traumatisé par ce qui s'était passé à valence et le coût politique que ça représente. il y a l'idée de mettre en 1re ligne celui qui sera responsable, in fine, aux yeux de l'opinion publique, de la gestion de la crise. d'où l'activisme de communication de pedro sanchez. - elisabeth allain: pas forcément pour annoncer quelque chose. il n'est toujours pas en mesure de dire ce qu'il s'est passé. c'est important, quand on est premier ministre, et qu'on représente l'etat espagnol, de dire qu'on ne sait pas? - benoît pellistrandi: ce qui est inquiétant, c'est pourquoi on

now, eu trade chief maros sefcovic said the eu is ready to consider all retaliatory options, but that bloc wants to prioritize negotiations. speaking to reporters, president trump said the eu's offer did not go far enough, calling on the bloc to take steps to reduce its trade surplus with the u.s. >> it's got to be fair and reciprocal. it's got to be fair. it's not fair. we have a deficit with the european union of $350 billion, and it's going to disappear fast. and one of the reasons, and one of the ways that that can disappear easily and quickly is they're going to have to buy our energy from us because they need it. they're going to have to buy it from us. they can buy it. we can knock off $350 billion in one week. >> and let's get out to sylvia, who joins us now from beautiful siena, italy. sylvia, tell us a little bit more about how the eu has approached its response to president trump and where things stand now, as president trump effectively said, no, not enough. >> so ultimately, what we have to. >> keep in mind, juliana. >> is that the. >> europeans are willing to negotiate.

is britain rejoining the eu by stealth? government�*s youth visa plan, government's youth visa plan, new eu trade talks and fishing concessions all point to creeping in by the backdoor, creeping in by the back door, raising major concerns about whether the reverend starmer is quietly undoing brexit. kemi badenoch has thrown her hat into the trans rights debate, suggesting transgender people use disabled toilets after the supreme court ruling on gender in the equality act. as the government confirms, transgender public sector workers will be banned from using toilets for their self—identified gender. is she right? new economic forecasts show uk growth could halve by 2026, with president trump�*s tariffs set to slash gdp to just 0.8%. meanwhile, chancellor rachel reeves is facing a growing backlash over tax changes as wealthy individuals flee the country. how much longer can this go on? it's no secret that politicians with leadership ambitions revamp their image in a bid for public appeal. but why is this necessary in a syste

with this deal, that would become a part of the eu deal.d have -- could offer input from what the deal would mean. sumi: why hasn't europe not gotten involved? >> it is tough for me to say. in many cases brussels has been rather silent. we are talking about increased spending on our defense, certain elements that would increase our security. when it comes to ukraine i would expect brussels to do more. it is a candidate country, a country on the continent and we could and should be doing more. sumi: we saw mr. trump talk about president zelenskyy. he said i do not blame him about the war starting but i am not happy with him. i would not say he has done a great job and i am not a big fan. what do you think of those comments? >> president trump usually picks a personal approach when it comes to bilateral relations. it is difficult to comment because it changes from day to day, week to week. the general notion, what really is worrying is mostly coming from the special envoy, mr. witkoff. when he comes back from moscow after meeting with putin a

de l'autre côté, donald trump dit qu'il y a peut-être eu une erreur.ation, ce serait de dire qu'il faudrait céder du terrain à la russie. militairement, la russie n'est pas capable d'occuper 4 oblasts, et ce devrait être la ukraine qui cède là où les russes n'ont pas réussi à gagner. il faut commencer par faire céder les américains pour qu'ils mettent la pression sur la russie. - elisabeth allain: keith kellogg, l'émissaire américain, fait partie de ceux qui ont réagi avec le plus de force. y a-t-il une chance que ce genre de drame, au milieu d'une guerre, constitue un point de bascule qui ferait réagir? les ukrainiens espèrent que ça pourrait servir de point de bascule pour faire réagir les occidentaux. - dominique trinquand: on a un exemple dans cette guerre avec boutcha. l'opération à boutcha avait fait basculer. les ukrainiens étaient prêts à négocier, à ce moment-là. après les horreurs de boutcha, ils sont revenus en arrière. il faudrait que cet événement provoque un choc chez les européens. mais c'est chez les américains. il faudrait que monsieur

secondly, i thick would not be doing dynamic alignment with the eu and eu rules, which i think the eu that would exacerbate tensions with the u.s. on the third thing i would do is i would show a bit more global leadership, the u.k. along with the u.s. is the co-author, if you'd like, of the world global trading system. the u.s. has now disappeared from that, but i think that's more reason for the u.k. to step up and show leadership at organizations like the wto and convene a ministerial meeting at the cp tpp free trade area. these are the things i were doing, i would take a much more active approach and yes to doing a deal with trump, but also, step up and make the moral case for global free trade, which i think the government is not really doing, but broadly speaking i think their approach of not doing their retaliatory tariffs, trying to get a deal with the united states is the right approach. tom, what could the contours of u.s.-u.k. look like? the pulse of suggest they don't want to see fluorinated chicken shipped in. we don't want to see a privatization. the digital taxes helpful

the eu is falling apart, that there is no ideology behind the eu, the eu is an american puppet, that the eu will just take minerals and different benefits from all those countries that are rich. announcer:

but eu officials held off due to ongoing negotiations over tariffs.f intel are rising ahead of the open. bloomberg reporting the company will unveil plans to this week to cut more than 20% of its workforce. we're seeing shares up about 3% in the premarket, and the report adds the move is aimed at streamlining operations and refocus on an engineering driven culture. and six of the top policy groups representing the us automotive industry are joining forces to lobby the trump administration against 25% tariffs on auto parts that are set to take effect next week. now, the group, which represents nearly all the major automakers, franchise dealers and suppliers, say the tariffs could jeopardize u.s. automotive production, with many auto suppliers stressing they wouldn't be able to afford the additional cost increases. the letter comes a week after president trump said he may help some auto companies that need more time to move or increase u.s. vehicle production. frank. and we're seeing some of the big automakers right now ford, general motors, stellantis

now with the uae about a trade deal and also looking at the eu leader.eu commission president ursula von der leyen's ex page today. lots of posts. she's had a call with canadian prime minister mark carney about setter, which is the eu canadian deal. she's also had a call with the new zealand prime minister about a partnership that they already have. and all of this playing out very publicly. i have to say, on social media. so perhaps the u.s. president is aware that the eu is talking about trade with many other allies and partners around the world. it was very interesting that in the eu's announcement that they would also pause the countermeasures they made against steel and aluminum tariffs, that they said if negotiations are not satisfactory, our countermeasures will kick in. and you have to remember, they've only announced countermeasures to the initial tariffs on steel and aluminum. they're still working on much broader lists to retaliate against cars and against potentially higher tariffs across the board. so this is not necessarily the end. this re

il n'y avait pas eu de renvoi d'ambassadeur.ouvelle phase de crise totalement inédite. - elisabeth allain: ajouteriez-vous "inquiétante"? est-ce qu'on n'est pas juste dans le symbole? c'est fort, d'expulser des fonctionnaires d'un côté et de l'autre. n'y a-t-il pas une volonté de faire des symboles pour que ça s'arrête définitivement? - farid alilat: c'est grave. comme je l'ai dit, on est passé d'une période d'accalmie à une période encore plus grave. il est grave que des diplomates algériens et français soient expulsés. je le redis. ca ne s'est jamais vu depuis 1962. qu'un ambassadeur de france soit rappelé, même pour consultations... ca fait que ce qui se passe aujourd'hui s'ajoute à ce qui se passe depuis 8 mois. - elisabeth allain: on va revenir sur les origines de la crise. - paris riposte après l'expulsion par l'algérie d'agents français. dans un communiqué publié mardi soir, la france annonce elle aussi

the way was the head of the eu for trade. he now is a different title concerning economics, but here's what he said about a possible bonus to these trade negotiations. roll that tape, that's number one. >> putting some ideas on the table. treks, possibilities of purchasing more u.s. lng and in general more corporation field of energy and also regards industrial goods came as proposal and sen zero for zero tariffs and putting it together at all. david: i don't want to be poly amish about this because anything can happen and see what happens with the market today and comments by that eu commissioner and others and i mean, the fact that our lng exports may finally be doing what you wanted in the first term and didn't have thyme time and really open up the european ports and that was dislodging russia in his dominance of eu for the national gas and all kinds of them and plus working towards that zero tariff rate and it's the opposite of tariffs. >> in the end, president trump recognizing we're going to get a tariff reading and go

and i think the eu project as a whole. is being really shaken very, very hard from all. >> sides of the. world russia, us, china. and so if you don't react, you know you're going to die. >> do you think that reaction is going to be enough, though, to continue driving european equities higher? we have seen this outperformance of europe versus the us year to date. clearly these policies that the european europeans have in the pipeline are are intended to drive domestic growth in europe and offset some of the global headwinds here. but is it enough? do you see european equities continuing to outperform their us counterparts? >> well it's a good point. i mean you've had a huge pullback in the us. >> i mean. >> huge you know significant in historical comparisons. >> so 10% drawdown is pretty significant. and at the same. >> time europe has gone. >> up. >> very significantly. so you've had one of the biggest performance of europe over three months. you know ever. so that. >> of course, in my view. >> suggests that. us can potent

what went on in these talks between the uk and the eu?uess prep us for what's coming in this much more important summit in may. >> sure. >> so what we're witnessing at this stage. >> is really the best relationship. >> between the uk and the eu. >> in recent history. >> post brexit. we had very. warm words from both the prime minister and. >> the. >> president of the european. >> commission, ursula. von der. >> leyen, called keir starmer a friend. she said we have the same values. we share. >> the same interests. >> we are very. >> like minded people. and at the same time. >> the prime. >> minister, keir. >> starmer. >> also said that this was. >> the time. >> to build a partnership with the eu. >> here's some sound from the prime minister. >> this is the moment. >> to act. >> and it's. >> the. >> moment to build a partnership with the eu that meets. >> the. >> needs of. >> our time. >> facing up to the global shocks of recent. >> years and working. >> together to minimize. >> the impact. >> on hard working people. >> the key takeaway. >>

or the eu.e can do this in a way that is consistent with both, and we should all be committed to that. and he asks about the implications for the united kingdom. he broadly asked me to reverse a series of policy choices made in the last 14 years and i'll go through all of those. i would say, in relation to the spring statement, the chancellor had only rebuilt the headroom caused by some of this global turbulence to a substantial degree higher than that which was bequeathed to her by the conservative party. i'd also say, on conservative spending plans, there was no relief for business rates whatsoever in what we were left. that was a one year relief rolled over that never had any longevity from the conservative party, and i haven't yet received any credible proposals from the party opposite to pay for their spending plans, but i'm always available to receive those in writing, madam deputy speaker. he asks for reassurance, of course. we are always happy to provide that on policy changes. domestica

with the eu.lly said the hotel -- the euro was like the hotel california, greece is blinded with whatever the eu does. what's the future for greece when it comes to this liberation day we are expecting from donald trump? yanis: it's not looking good i'm afraid because greece will not be affected directly by trump plus tariffs because we don't send much to the united states but greece is dependent, effectively turn into a dead colony. it is utterly affected by the capacity of the german industrial model to continue functioning. and i'm afraid that model has shown for sure signs recently that it is gone. it is simply not able to compete with chinese technologies, especially when it comes to electric vehicles, when it comes to green energy. in germany and europe we have not invested, we have zero actual productive net investment. so countries like greece are essentially hoping for the best while watching the incoming chancellor of germany trying to maintain business as usual when it cannot be maintai

and at the same time, the eu had this to say. the eu considers u.s. tariffs unjustified and damaging, causing economic harm to both sides as well as the global economy. now this is the crucial bit. these countermeasures can be suspended at any time. should the u.s. agree to a fair and balanced negotiated outcome. i.e. we are retaliating. but hey, our first our first option, our preferred option here really is to negotiate. they clearly haven't got very far with that. i believe president trump really has a target on the eu at this stage. perhaps he considers them to be one of the many countries ready to kiss his or america's. and i'll let you fill in the rest. >> i've been doing that. >> thank you so much, anna. so now with us to discuss is larry summers. he served as treasury secretary under president bill clinton's administration. larry, thank you so much for being with us. so you heard the treasury secretary there shrugging off china's escalation, claiming that it's going to be a loser for them. i wonder who you think has the advantage in this trade

we are tough in the eu and we stand up for our eu citizens. enough of the brussels bureaucrats, this is just bureaucrats trying to claim they accomplished something. they accomplished nothing. bureaucrats never do. that's why they're bureaucrats, they can't make it into the real world. in this country, we're getting rid of so many of them, thanks to president trump thinning down the government. so no, this means absolutely nothing. and it certainly means absolutely nothing to apple and meta. 500 million may sound like a lot but apple in terms of revenues, 200 billion so 500 million is a fraction. excuse me, 400 billion. 400 billion in revenues at apple so 500 million is a fraction of a percent. these numbers -- they sound big and bureaucrats can say yeah, half a billion but in terms of apple this is literally maybe 12 hours worth of revenue. cheryl: you can hire a lot of lawyers with that much money. >> i guess. that's what they're going to do. cheryl: ryan, good to see you as always. adam's going to stay here all morning long. we're just gett

to the eu, something that's more permanent. of course, that was a 20% tariff that was put on hold a couple of weeks ago, along with a variety of other so-called reciprocal tariffs that the president imposed. but there has been a back and forth from autos to other things, a for tat. that's what the european union wants to get out of, to try and more normalize trading relations. but once again, that personal relationship that the president has with so many leaders, that's front and center here today, dana. >> yeah. no question. it's going to be really fascinating to see how that plays out. i do want to turn to another really important news event that happened this morning, which is donald trump lashing out again at the federal reserve chair, jerome powell. he is essentially telling americans, the truth about his tariffs when he's lashing out at powell. >> there's no doubt. i mean, jerome powell, of course, who is appointed to his position to lead the federal reserve by this president during his first term in office. and he has on

sinon, je n'ai rien vu, j'ai eu color="#00ff00">peur.olor="#00ffff">de se réfugier. - nous dormions quand nous avons entendu la 1re explosion. les fenêtres de notre appartement ont été endommagées, les appareils de cuisine se sont envolés, mais heureusement, nous sommes en vie. - a la suite de cette attaque, la présidence ukrainienne a accusé vladimir poutine d'avoir "uniquement le désir de tuer". volodymyr zelensky réclame un cessez-le-feu immédiat, au moment où washington l'accuse de saboter un possible accord avec la russie en refusant